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Chicago City Wire

Monday, May 6, 2024

Former state university employee Dinella paid in $61K to pension fund, could collect $1.34M in retirement

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Former state university employee Marianne Dinella, who retired in October 2016, saved $61,497 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dinella would collect as much as $1.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Dinella received $28,228 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dinella will have already received $87,250 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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